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Today there are contradictory reports as to the health of the President and questions about exactly when he fell ill. The White House says the next 48 hours are critical.
October is often a pivotal month. This one is no exception. Most of the stock market crashes have happened in the month of October, notably 1929 and 1987. When the GFC hit in 2007 and 2008, October in both years was also critical. The US stock market took a hit on Friday with the news that the US President has COVID.
October is the month when we mentally turn a corner towards the coming year and begin planning for the next 12 months. Everyone is looking forward to a better year ahead, but there is a lot of uncertainty and no guarantee that this crisis will be over anytime soon. Even when the pandemic is over, the economy will take a long time to recover.
Victoria is on track to join the rest of Australia by the end of the year and we can look forward to a much better 2021, at least domestically. But the tail of this second wave is stubborn. We had 12 further cases in the past 24 hours with one more death. Our 14 day average is now 11.9 and the unknown case number is 13.